Selling a home that is close to a new development can be challenging

There is a newly built home down the street - in a newly built subdivision and, you’ll admit, it is divine. It’s a house with everything… brand-new appliances, white marble countertops, wide plank flooring, pendant fixtures, and energy efficient heating, cooling, and electrical systems. Looking around, you find yourself entranced. The problem is…you’re not in the market to buy a home...you're trying to sell your not-so-new home.  

How do you market an older home? The good news is that older homes have buyers! Oftentimes, the buyers are looking for an older home because of its character, mature landscaping, and lower property taxes. If your potential buyer is looking for a newer home, you’ll have to make changes so that buyers are attracted to your older home.  

While there is nothing you can do about the fact that your house was built in 1985 (or thereabouts), you can research the trends in new homes, analyzing what to do to make your home appeal to buyers.

Investigate trends and review competition. Get ideas of the latest decorating trends in model homes as wells as ways to maximize the best features of your home, minimizing the least appealing features.

Small upgrades go a long way.  Adding a fresh coat of paint in new neutral tones of pale grey or beige rather than pure white can give your house a new look. Other upgrades, like switching out the old kitchen and door hardware are small aesthetic details that can give your listing new life.  

Big ticket items go even longer.  Big ticket items like energy-efficient appliances, new countertops, and bathroom remodels, may be the most important upgrades sellers can make because most buyers can’t afford them on top of a home purchase.

Be Realistic. Lower Your Price.  A house that has seen little movement for months is frustrating. Not an easy decision, but lowering your house by $20,000 (or more) will take months off the time it can potentially be on the market.

Three Rivers Association of REALTORS® is a professional trade association with over 1,000 REALTOR® and affiliate members in Will and Grundy counties and the surrounding areas who provide professional and ethical real estate and real estate related services.

Call us: 815-744-4520!

Sources:

https://www.realtor.com/advice/sell/sellers-game-compete-newly-built-homes/

https://magazine.realtor/home-and-design/feature/article/2018/05/how-older-homes-can-gain-an-edge

https://www.realtor.com/advice/buy/why-buy-old-home-instead-of-new-one/

https://www.washingtonpost.com/lifestyle/home/ten-home-design-trends-to-watch-out-for-in-2018-according-to-houzz/2017/12/15/b64a9b58-df6a-11e7-89e8-edec16379010_story.html?utm_term=.cadca86ae282

These 5 Tips Will Help Your Home Stand Out In A Crowded Market

The housing market is hot right now with lots of inventory and very motivated buyers. So if you’re putting your house up for sale, you have to make your home as attractive to buyers as possible, or they’ll simply move on to another house. Following these five tips will help you be more competitive in the market - moving your house more quickly and getting you the highest sale price possible.

Boost Curb Appeal

Pressure wash the siding and driveway to revitalize these surfaces. A clean exterior will signal to prospective buyers that your home was well-kept and that the interior is likely to be in great shape too.

If washing the siding isn’t doing enough to bring back the color, consider painting your home. While you’re at it, freshen up the trim, shudders, and entry door to make your home look like new again.

During the growing season, don’t forget to keep an eye out for overgrown trees and bushes as well. If you have sidewalks or paths that are partially blocked by any branches, think about trimming those back before house viewings.

Clear Out Clutter

Buyers will be turned off by excessive clutter and personal items. Removing larger furniture, decor, and family photos will make rooms look larger and it will be easier for those touring your home to envision their own items in that space.

Clean Everything Inside

Hiring a cleaning service is the fastest and easiest way to get your house sparkling. Simply call a local cleaner and ask for a move out cleaning. They’ll take care of the rest.

If you don’t have the budget to hire cleaners, then you’ll need to clean each room (including the garage and basement) yourself. Vacuum floors, wash light fixtures, polish woodwork, and clean out all appliances to brighten and deodorize your house.

Make Needed Improvements

Whether you want to add a fresh coat of paint to the bedrooms, update the bathroom, or make repairs in the kitchen, now is the time to do it. Renovating before you sell will be a big draw to buyers who are looking for a turnkey home.

Get Your Home Inspected

A home inspector can point out any issues that need to be addressed before potential buyers visit. You can then make the repairs, or let buyers know exactly what needs work. Though a home inspector can run anywhere from $300 - $500, it’s a great way to show buyers that your house won’t give them any surprises.

Putting a little time and money into your house before you sell can make it more attractive to buyers. Showing your house in its best light will get it more attention and maybe even a higher selling price.

When you’re ready to sell your house, contact a realtor from the Three Rivers Association of REALTORS® at 815-744-4520 or http://www.trarealtors.net.

Think about getting a home inspection before putting your home on the market

In a typical real estate transaction, it is the buyer who arranges and pays for the home inspection. However, it can be to a seller’s advantage to pay to have an inspection done prior to placing their home on the market. A pre-listing inspection can provide them with valuable information about the condition of their property and an idea of repairs that they may (or may not) wish to have done. This information can help in negotiating the sales price of the home as well as avoid having these repair issues surface down the road at a less opportune time.  

Is there any difference between a pre-listing inspection and a buyer’s inspection?

The only difference is who (seller or buyer) is having the inspection done and the point in time when the inspection occurs. The scope of the inspection, whether done pre-listing or after the sales price and terms have been agreed upon, will essentially be the same focusing primarily on proper functionality of all major systems and components of the house: heating and cooling, electrical, plumbing, roof and structure, siding, doors, and windows.

Typically, how much does it cost for a pre-listing inspection?

The fee is usually the same as the buyer’s inspection, generally ranging from $350 to $500 for a qualified inspector who carries errors and omissions insurance. The price can vary based on location, square footage, age of the home, and any special conditions.

Why should a seller consider doing pre-listing inspection?

Keep in mind that whether a seller has a pre-listing inspection or not, the buyer may still choose to have their own inspection done. What a pre-listing inspection does is give the seller a chance to resolve any repair issues up front that are likely to surface in the buyer’s inspection or have them accounted for in the asking price. This not only places the seller in a better negotiating position but helps minimize the chance of having to deal with circumstances that may come up in the buyer’s inspection that is done after the sales price and terms have been negotiated.

What should the seller do if a pre-listing inspection uncovers major problems?

Generally, it is better to know about inspection issues early rather than to be blindsided at a later date. Once identified, they can be assessed for proper resolution. A seller shouldn’t automatically assume that everything needs to be fixed prior to placing the home on the market. A REALTOR® can advise them as to which repairs are likely to negatively affect the sale of their home.

If you’re looking for more information about buying or selling your home, Three Rivers Association of REALTORS® can help. Visit our website today to learn more and to find one of our members who can help you!

Quick, Easy and Inexpensive Renovations Before Selling a Home

Selling a home can be one of the most stressful times in a homeowner’s life. Your schedule becomes packed with appraisals, home inspections, radon testing and packing away unsightly clutter. While juggling these time-consuming tasks, the thought of adding home renovations to your lengthy to-do list seems out of the question. Fear not, there are renovations that won’t require long timelines, stinky dumpsters, or large price tags. Here are a few simple renovations that can be completed to ensure that your home not only sells, but that your home sells quickly.

Quick & Easy Renovations:

·   Remove family photos or outdated wall art. Spackle nail holes and give rooms a fresh, neutral coat of paint. Bold colors can sometimes be a turnoff for potential homebuyers.

·   Purchase new interior and exterior entryway light fixtures. This is the first area potential homebuyers will see upon entering the home.

·   A beautiful new door or fresh coat of paint will create a stunning entryway for guests.

·   Full bathroom renovations don’t often make a large impact. Save your money, and simply put in new light fixtures, new mirrors, and new vanities.

If you have an outdated home but no time for renovations, consider offering a renovation budget to potential homebuyers. The budget will be a small chunk of the list price and allows buyers to give their new home a personal touch.

In addition to renovations, there are many small changes that can be made to a home that will increase buyer appeal. Make sure that the home is as clean as possible. This may require putting some belongings in a storage unit until the home sells. Landscaping and curb appeal can attract buyers who are simply passing by the home. Consider keeping your lawn cut, watered, and edged. If you don’t have time for gardening, purchasing and hanging flower baskets can do the trick.

When searching for more information on ensuring a successful sale, turn to the professionals at Three Rivers Association of REALTORS®. Three Rivers Association of REALTORS® is a local non-profit real estate service that assists and educates REALTORS® with programs and services. On our website, homebuyers and sellers can find Three Rivers Association of REALTORS® related service affiliates like home appraisers, attorneys, inspectors, and more. For additional information, give us a call at 815-733-4520 or visit our website at www.trarealtors.net.